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After online grocery delivery, Zomato pulls the plug on its nutraceutical business
MUMBAI: Foodtech platform Zomato has shut down its Nutraceutical business. The development comes hours after the company decided to pull the plug on its grocery delivery business from 17 September, citing tough competition and moderate success.
In 2020, Zomato had started its nutraceutical business with the launch of health and fitness products. The decision comes at a time when the government is turning stricter about private label norms for marketplace businesses in the country. The online food marketplace had tapped into the nutraceutical opportunity related to food products that offer medical or health benefits last year, expecting it to be a large value driver for Zomato.
Zomato had earlier announced its decision to stop its grocery delivery service effective 17 September, mainly on account of gaps in order fulfillment, leading to poor customer experience. It had launched the pilot grocery delivery service in July this year in select markets offering grocery delivery within 45 minutes to its customers. The company also said that it believes that its investment in Grofers will generate better outcomes for its shareholders than in-house grocery efforts.
In an email to its grocery partners, the online food delivery platform said, “At Zomato, we believe in delivering best in class services to our customers and largest growth opportunities to our merchant partners. We don’t believe that the current model is the best way to deliver these to our customers and merchant partners. Hence, we intend to stop our pilot grocery delivery service effective 17 September, 2021”.
The email mentioned that “store catalogues are very dynamic and inventory levels change frequently. This has led to gaps in order fulfillment, leading to poor customer experience”.
In the same time period, the express delivery model, with under 15 minute delivery promise and near perfect fulfilment rates has been getting a lot of traction with customers and expanding rapidly, the company further said in the email. “We have realised that it is extremely difficult to pull off such a delivery promise with high fulfilment rates consistently, in a marketplace model (like ours),” the mail said.
Zomato has invested $100 million (around Rs 745 crore) for acquiring a minority stake in grocery delivery platform Grofers.
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Boeing appoints Barun as head of FP&A for global engineering function
Seasoned finance leader to steer budgets and strategy across global centres
BENGALURU: Boeing’s finance cockpit has a new pilot, and he is no stranger to turbulence or transformation. Boeing has appointed Barun as head of FP&A for global engineering, placing him at the centre of financial strategy for its worldwide engineering and technology operations.
Based in Bengaluru, Barun steps into a role that is as expansive as it is critical. He will serve as the primary finance lead for Boeing’s Engineering and Technology Centers globally, working closely with executive leadership to shape financial decisions, manage complex budgets, and design scalable finance processes that support the company’s growing engineering footprint.
In a note announcing his move Barun said, “I’m excited to share that I’ve joined Boeing Global Engineering. This opportunity is incredibly meaningful to me not just from a professional standpoint, but also for what Boeing represents globally.” He added that he looks forward to contributing to an organisation that continues to shape the future of aerospace and innovation.
Barun’s mandate spans strategic financial leadership, operational oversight, and stakeholder engagement. From directing large-scale budgets and schedules to influencing long-term organisational goals, the role blends financial discipline with business foresight. He will also lead cross-functional teams and partner with finance colleagues worldwide to support engineering programmes across geographies, including India.
The appointment caps a long stint at Juniper Networks, where Barun spent over a decade, most recently as finance senior manager. There, he led FP&A for global product business units and G&A functions, driving budgeting, forecasting, and long-range planning. He also played a key role in enterprise-wide transformation, including spearheading an Oracle to SAP ERP migration and building advanced analytics capabilities using tools such as Tableau and SAP Analytics Cloud.
His earlier career includes finance leadership roles at Sony India Software Centre, Cognizant Technology Solutions, and Mphasis, where he focused on financial planning, governance frameworks, and operational efficiency across global delivery centres.
A chartered accountant from the Institute of Chartered Accountants of India, Barun brings nearly two decades of experience across financial planning, digital transformation, and analytics-led decision making.
His appointment comes at a time when global engineering operations are becoming increasingly complex and distributed, requiring sharper financial oversight and agile planning. With Barun at the helm of FP&A for engineering, Boeing appears to be tightening its financial playbook as it looks to scale innovation with discipline.
